Things have been quiet here for the last few days, we picked up and went camping out in East Texas. Had a great time disconnecting from all the crap that goes on around these parts on a daily basis. Caddo Lake State Park is worth checking out if you’re in the area as most state parks are. Jefferson is a fun time as well. We saw Guy Clark at Music City Texas Theater in Linden on Saturday night and that was a treat not usually encountered on a camping trip.
Overall, a nice trip. I’ll try to get some pictures up if any are of note tonight.
Yesterday, I wrote about TXU trying to blackmail its customers and the public by saying it would close down plants if it had to pay the fine recommended by the PUC of Texas.Â Today, they have a different view on things after legislators and the private equity firms trying to buy TXU had something to say about it.
Can you imagine what it would feel like if you were part of a firm trying to pay $45 billion for a company only to have them come out and basically flip the bird to its customers, its regulators and to you?Â I bet there were some heated conversations yesterday with one Mike McCall, head of the TXU wholesale section where he didn’t do much talking.Â Serves him right for being a dumbass if you ask me.
I have the feeling KKR and Texas Pacific Group will be in close touch with TXU and all their public relations from here on out.Â I have no idea whether taking TXU private is a good thing or not (my inclination tells me it’s a cautious positive) but if for no other reason than getting TXU to straighten up and fly right, I’m happy.
One good thing about living in the sticks is that you get your power from a cooperative which means the company has a tendency to want to keep its customers happy given the fact that they own it too.
That’s why they are threatening to shut down plants if the state fines them for manipulating the wholesale market, not unlike Enron did.Â This is a poorly concealed effort at blackmail and it shouldn’t work.Â If they did manipulate the wholesale market (which an outside monitor decided they did), then they ought to be punished for it, end of story.
Great news for Texas citizens.Â Gov. Perry signed the law that allows Texas citizens to defend themselves without first trying to retreat in their homes, cars or jobs.Â In theory, this law was already in place as no grand juries in Texas would ever choose to indict a homeowner who defended himself but it’s nice to see it in writing.